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Generally where one party in negotiation of an agreement changes the offer, they are actually rejecting the first offer and giving the other party a counter-offer. There is no contract unless the the other party accepts the counter-offer and there is consideration for the promise.
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Who signs the contract first the seller or the buyer?
Typically a real estate contract begins with a written offer from the buyer. The offer, to be official is signed by they buyer. From there there seller may make amendments and sign and amended contract, that needs to be approved and the changes are either initialled by the buyer and the seller or a new contract containing agreed upon amendments is resigned by both parties. The signing continues until a final agreement with all agreed changes has been signed by both parties. For further information, see the related link below.
Is a contract valid if the buyer informs the seller that they have signed the contract yet the next day the seller tells the buyer that they are no longer accepting the offer?
The contract is not enforceable unless both parties signed it. If the sellers changed their mind and didn't sign then you don't have a contract.
If buyer changes mind on home purchase which does not fall within the contract what remedies does the seller have regarding the signed contract?
The seller is interested in selling the property and not getting into a legal battle over breach of contract. Keep the deposit and move on to the next buyer.
Can a Seller break a real estate Offer to Purchase?
One cannot break an offer. An offer is simply that, an offer. Normally in the process of purchasing real property, a buyer makes an offer to the seller. The seller may then accept that offer, reject that offer, or reject that offer and make a counter offer. Typically, an offer is met with a counter-offer, and the process goes back and forth until one party accepts the other's offer. When the offer has been accepted, a contract has been formed. Should a party enter into a contract and later break that contract, they are subject to the conditions of the contract. (Written in the text of the offer and acceptance.) This is only relevant if one party has made an offer and another party has accepted that offer. Real estate contracts generally include conditions, such as inspection and financing, that allow a party to exit the contract if these things are not satisfactory. When one party has made an offer, they are under no obligation to leave that offer open for any period of time. If a buyer makes an offer to a seller, and the seller has not responded yet, the buyer may withdraw the offer for any reason.
If you signed a purchase contract stating that the buyer would finance can you cancel the contract if you can't get a loan?
It depends upon the specific terms and conditions of the contract. If the contract simply states it is the buyer's obligation to secure financing, then you can NOTcancel the contract. If the contract states that the agreement is conditional upon the buyer's ability to secure a loan, then you CAN cancel the contract.
Back out of car contract not signed by primary buyer but only by secondairy buyer?
If your question is "can the contract be null and void" if signed only by the primary buyer and not by the co-signer? Depends. If the contract is in both names-yes. If the contract is typed up "only" in the buyer name-no. If the loan is conditioned to both signing, yes.
How does bilateral contract and advertisement differ?
A bilateral contract is an exchange of promises the law will enforce. A contract requires an offer, acceptance, and consideration. An advertisement is generally considered an invitation for an offer. In consumer transactions, a buyer is typically the offeror. The advertisement serves as the sellers invitation to the buyer to make an offer, thus the offer could be rejected by the seller. However, an advertisement could be construed as a valid offer if it contains clear and definitive terms. For example: Playstation 4 for 50% off to first 10 customers. The terms are clear and there is nothing left to negotiate. This would actually be a unilateral contract which becomes binding upon performance by the buyers.
If buyer requests a release from contract can seller choose to enforce the contract?
A contract, if properly drafted, is enforceable. If the buyer requests a release the seller can negotiate or keep the deposit.
Which statement about contracts is correct?
The correct statement about contract is that a contract is an agreement between a buyer and a seller. A contract can be a written or oral agreement.
What is contract farming?
Contract farming is an arrangement with a buyer, such as a food processor or marketer, to sell and ship the produce to the buyer upon harvesting.
What if a buyer has secnd thoughts that differ from the co buyer?
Right up until the point when the contract is signed, the buyer can change his or her mind, and what the co-buyer thinks about it is an issue for the two of them to work out. After the contract is signed, it's pretty much too bad for the buyer if he or she has "second thoughts".
What exactly is a reverse auction?
In a reverse auction, a buyer puts a contract out for bid. Sellers offer bids on the item, competing to offer the lowest price. The price generally decreases as the auction progresses with sellers competing to offer the lowest bids.
